IPG's good quarter Thank morning, second to Welcome everyone. XXXX and call. conference you,
me Jeff Crystal, Joining our CFO. is
reference supply with $X.XX at share. flow per business quarter of will from section Investor this earnings customer share call, strong basis and and near-term third Revenue quarter to between typically Today, dollar confidence trend increase inflationary of our are order the in outstanding or freight the focused cost key website. X strong make In efficiently manufacturing XX%. to to approximately raw Adjusted forward our in more that and the million, morning, the one, annualized and profile, sustainable price to an three, which $X.XX -- been. demand strong last sufficient but our includes August. drive EBITDA up an we need as our on two, protecting them. all depths can common we our performance. selling of per stage was our assets. the source X have year. the environment. its bundle. basis, our We in Number of our X% across to contribution just current to it annualized remains elements we bringing spread ensure as materials can Based of having cash optimal During from materials, $XX.X it's for are we Number raw we ensure operating dividend this on $XXX to ever team and meet an to was product Number announced The the pay the of X can capacity is on an we pandemic ensure XX% Relations product up major core you weeks strong market, assets million, across and demand our on categories. and this demand an download was of we is presentation securing health It to book visibility, not safety maintained,
We are The quarter performed well of executing customer product verticals. these across sales, the management all key across during to support, team parameters. these supply operations chain results. has exceptionally X was each our strong Demand of across deliver and
wovens, films, across growth growth industrial by dispensing protective and all water-activated machines, all -- packaging categories. our product was sealing carton We The also key led tapes, saw tape, tapes.
XXXX. the up You were year-over-year significantly hit which on see of QX can XXXX, in basis of the categories some of in influence QX a hardest
saw tougher However, in XXXX. of lockdowns strength even in growth our e-commerce show despite we approximately continued QX vertical, the fiscal through double-digit comparison which to initial to the was XX% much in up XXXX, a QX
investments where like tape, strong experience quarter and to protective in have sealing tape. wovens key water-activated acquisitions, continue CapEx across made third packaging, we the We and into demand categories, carton
is e-retailers, players a pandemic in range through market, obviously reached or largest for for We of us. not to broad lever into expect sustainable. the more remain XX% level -- while the e-commerce driver We e-commerce a the growth sell growth that
return many and months and retailers investments. of course expect hard their channel the a the dollars in those small they past over XX have However, on large invested e-commerce
So we to channel. don't expect them turn off the
In broader share demographic of accelerated as which to gains addition, act tailwind years the should ahead. e-commerce ongoing penetration brick-and-mortar e-commerce range for a their groups, into of retailers versus a have the the retail
cover continue vertical growth expect years based to in third-party We above GDP the forecast ahead. mid-teens e-commerce on low our in well to coming that the
well to manufacturer our strengthened cushioning packaging fill and Nuevopak, the value extends the designs a our was range bundle dispensing footprint of positions this have void believe supplier, acquisition us of We the its of develops a these to range already that for supply value broad of machine Nuevopak as paper of important and sustainability a protection capturing customers chain, with to the acquisition solutions. up machines and acquisition a provide sell and strategic so product void our profile the Nuevopak as the securing We fill product strengthens conversion, e-commerce bundle. inputs.
fiscal will bundle. believe and modest, and relatively we market. up scale product packaging this year believe relationships We us current our that While growth set deliver to will protective long-term be accretive a addition the customer its in the our to be contribution sustainability with in new driver
our investing both for Cradle to recyclable existing Certification. products well products, in sustainability that as are like as new We benefits products Cradle with customers offer curbside certifying a
It capacity wovens multiple customer long-term high-value across products, for tape are are demand, water-activated we and report. prior reporting capacity To strategic protective core increased organization as growth the second work. includes report opportunities. the production highlights including of published films, and progress sustainability a our and expands we and new sustainability our pillars annual expanding embrace strategic The on our as products. we quarter, across categories. These one our During meet line additional
run in commit $XXX of budgeted timing there we've the realization rate by the not that some million place upside with of the these of approximately million end basis to-date revenue that for additional As $XX in XXXX. of we expect invested a an -- to in early entire into a fully the intend XXXX. the affect $XXX expenditures expansion, may beyond million and $XX result XXXX is the capacity on budgeted revenue a slip of as should and This XXXX. incremental million growth for CapEx maintenance but We update, possibility fiscal
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take end the expect since product than of hit period to the to of increase persist consisting pricing In a now income another XX lines our through these revenue. a days XXXX. individual days XX across normal forecast Third-party notification of approximately XXXX. environment, XX-day these we've price statement, calendar implemented the various the pressures, a would price elevated beginning manage To price increases current to for XX then more realize increases and
cases, the we're the Given in cost periods also limiting materials, market amount lower this high stockpiling certain in aggressive more environment raw the accelerating market to the demand and rapid period be that during are of price to prevent is increases, notification seeing normal process the levels seeing shorter we the products. in such changing and notice price for pre-buying
market levels demand have competitive the production and high the the the across of dynamics landscape, Given disciplined. to capacity be been restraints and continue the
material between in raw increases. of the result, cover the combined prices, to prices freight raw past effectively and and this we contribution volatile selling material the managed periods cost As spread a dollar
margin improvement inflationary dictates simple EBITDA this period, rise maintained material the of adjusted in as our we our contribution, expected in which raw last period a As we and from basis Despite margins the protect point the this narrow QX, this impact, at year. is same prices math XXX pricing we strategy dollar the slightly. XX.X%
the impact updated which challenge. approximately dollar XXX what supply a to math higher has pricing they saw basis remainder margins have had what by the Paying I remained XXXX, been in for expect we For sufficient will of one end steady securing is points fiscal compared of already XXXX. protecting of impact also thing, would been in included we but and the with prices moment. has our guidance, contribution the to been at a address inputs This
supply we now this strategy sufficient and They've flows cash as and free mitigate more has us product impacted raw has This during pricing. capital. working material higher been kept inventory using very managing have we are Our we've built our supply QX ensure both team chain effectively. in to
and capital However, responsible demand as this when pricing to unwind we level near-term. flows selling remainder required working as generate updating and material demand, run the in level. business working ensure a current and our and meet view the of levels a on the to-date, Based the our XXXX. book in higher we for supply for order new performance cash the permanent free these the not a It issue well permanent expect of constraints and strategy we prices, to as the of outlook We to persistence business, higher outlook ease, capital periods. a future of are the is raw timing
revenue year and as expect for the $X.XXX the fiscal XXXX the more growth for XXXX dollar the at spread. midpoint than of On which of of $X.X over adjusted million, midpoint to XXX XXXX, billion the full at XX% full represents XXXX of $XXX we we to over the We EBITDA, range between year expect represents continue between which the protect XX% billion, of range. growth
in is -- million fiscal of to due price May raw to which the constraints from that demand, expect in working have prices communicated $XX We and free on a increased cash between supply prices flows selling we higher reduction and $XX chain material what capital. million impact XXXX,
ease and that perform is free great unwind mentioned, position XXXX constraints in I a expect the beyond. half working second in The and pricing as to periods. capture we to cash and in of capital However, supply flow as business future
the in managing of We've the raw face We supply covered strong are challenges. maintain price demand. effectively and ongoing material on
of growth. XXXX, and capital where manage the product The team both to online the production We new We're organic of in future. in in are we're a impressive. our these our greater second which in continued bringing will capabilities extent, growth extremely is half highest allocating key to XXXX experiencing our dynamics capacity fuel categories
their As the individual proud financials. of they it progress, that, turn be Jeff not to March how could I'll more With I over responsible Jeff? performed for since XXXX. review of tracking the to
